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MUMBAI/BENGALURU: New Delhi Tv Ltd (NDTV) on Thursday mentioned Adani Group wants regulatory approval to purchase its largest shareholder, as its founders – who personal the goal agency – are barred from buying and selling in securities markets.
Billionaire Gautam Adani’s conglomerate on Tuesday mentioned it was searching for a controlling stake within the information channel. NDTV mentioned the motion “was executed with none enter from, dialog with, or consent of the NDTV founders”.
NDTV founders Radhika and Prannoy Roy took a Rs 400 crore ($50 million) mortgage from little-known agency VCPL over 10 years in the past, and in alternate issued warrants permitting VCPL to purchase 29.18% of the information group.
The Adani Group mentioned on Tuesday it had acquired VCPL and is exercising these rights.
NDTV on Thursday cited a November 2020 ruling from the Securities and Trade Board of India (Sebi) barring the Roys from accessing the securities market till November 26, 2022.
Billionaire Gautam Adani’s conglomerate on Tuesday mentioned it was searching for a controlling stake within the information channel. NDTV mentioned the motion “was executed with none enter from, dialog with, or consent of the NDTV founders”.
NDTV founders Radhika and Prannoy Roy took a Rs 400 crore ($50 million) mortgage from little-known agency VCPL over 10 years in the past, and in alternate issued warrants permitting VCPL to purchase 29.18% of the information group.
The Adani Group mentioned on Tuesday it had acquired VCPL and is exercising these rights.
NDTV on Thursday cited a November 2020 ruling from the Securities and Trade Board of India (Sebi) barring the Roys from accessing the securities market till November 26, 2022.
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